Kenyan lawmakers are scrutinizing energy and consumer credit regulators as Parliament’s Special Funds Accounts Committee questions the Energy and Petroleum Regulatory Authority (EPRA) over rising fuel prices. Simultaneously, the Finance Committee is preparing to examine Buy Now, Pay Later (BNPL) companies due to concerns about consumer protection and lending practices.
During its engagement with EPRA, the Special Funds Accounts Committee questioned the authority regarding the latest fuel price increases announced on October 14. EPRA's Director-General Edward Mwirigi attributed the adjustment to global supply disruptions linked to conflict in the Middle East.
Mwirigi warned that further increases could occur if international supply pressures persist, highlighting the exposure of Kenya’s fuel market to developments beyond its borders. The committee is also examining audit queries concerning EPRA’s staff loan scheme for the 2021/2022 to 2024/2025 financial years. Issues under review include interest rates charged on staff loans, budgetary controls, and risk management.
The committee will consider the authority’s responses before preparing its report, as lawmakers seek clarification on the financial and administrative matters raised in the audit queries.
Separately, Parliament’s Finance Committee is preparing to question BNPL providers amid complaints about possible consumer exploitation and inadequate safeguards in the growing credit sector. Committee chair Kuria Kimani has warned that firms failing to honor parliamentary invitations could face action under Standing Order 191. The committee has raised concerns over Mogo Auto Limited’s failure to attend a scheduled meeting after requesting that the session be rescheduled.
Lawmakers intend to examine several aspects of BNPL operations, including licensing requirements, loan terms, debt recovery practices, asset repossession, and procedures for handling customer complaints. The committee will also review regulations governing the sector in consultation with the Central Bank of Kenya, aiming to assess how existing safeguards protect consumers using short-term credit arrangements.
The two parliamentary inquiries address different sectors but focus on regulatory oversight and accountability. While the EPRA review covers fuel pricing and financial management issues, the BNPL inquiry centers on lending practices and consumer safeguards. The committees’ findings and recommendations are expected to follow their respective reviews of the responses and issues raised during the proceedings.
